Florida Statute 674.103 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 674
UNIFORM COMMERCIAL CODE: BANK DEPOSITS AND COLLECTIONS

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F.S. 674.103

674.103 Variation by agreement; measure of damages; action constituting ordinary care.—

(1) The effect of the provisions of this chapter may be varied by agreement, but the parties to the agreement cannot disclaim a bank’s responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages for the lack or failure. However, the parties may determine by agreement the standards by which the bank’s responsibility is to be measured if those standards are not manifestly unreasonable.

(2) Federal Reserve regulations and operating circulars, clearinghouse rules, and the like have the effect of agreements under subsection (1), whether or not specifically assented to by all parties interested in items handled.

(3) Action or nonaction approved by this chapter or pursuant to Federal Reserve regulations or operating circulars is the exercise of ordinary care; and, in the absence of special instructions, action or nonaction, consistent with clearinghouse rules and the like or with a general banking usage not disapproved by this chapter is prima facie the exercise of ordinary care.

(4) The specification or approval of certain procedures by this chapter is not disapproval of other procedures that may be reasonable under the circumstances.

(5) The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount that could not have been realized by the exercise of ordinary care. If there is also bad faith, it includes any other damages the party suffered as a proximate consequence.

History.—s. 1, ch. 65-254; s. 9, ch. 92-82.

Note.—s. 4-103, U.C.C.; supersedes s. 659.33.

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Amendments to 674.103

Arrestable Offenses / Crimes under Fla. Stat. 674.103

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 674.103.

Annotations, Discussions, Cases:

Cases Citing Statute 674.103

Total Results: 7

and SC14-1952 Jean Claude Noel v. State of Florida and Jean Claude Noel v. State of Florida

Court: Fla. | Date Filed: 2016-04-21T00:00:00-07:00

Citation: 191 So. 3d 370

Snippet: interests in punishment and deterrence.” Id. at 674, 103 S.Ct. 2064. The Supreme Court ■ accordingly reversed

Del Valle v. State

Court: Fla. | Date Filed: 2011-12-15T00:00:00-08:00

Citation: 80 So. 3d 999, 36 Fla. L. Weekly Supp. 732, 2011 Fla. LEXIS 2878, 2011 WL 6220783

Snippet: turned a fine into a prison sentence.” Id. at 674, 103 S.Ct. 2064. The Court specifically noted that

Bank of America v. PUTNAL SEED AND GRAIN

Court: Fla. Dist. Ct. App. | Date Filed: 2007-09-18T00:53:00-07:00

Citation: 965 So. 2d 300

Snippet: statutory provisions contained in chapter 674. § 674.103(1), Fla. Stat. (2002). Section 674.406(6), Florida…measure of damages for the lack of failure." § 674.103(1), Fla. Stat. (2002). Accordingly, the trial court…Deposit Agreement is not in violation of section 674.103(1), and it is a valid agreement. Use of the term…ordinary care, it is not void based on section 674.103(1); therefore, the trial court erred in granting

Republic National Bank of Miami v. Johnson ex rel. Guardianship Program of Dade County, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 1993-06-15T00:00:00-07:00

Citation: 622 So. 2d 1015, 20 U.C.C. Rep. Serv. 2d (West) 1300, 1993 Fla. App. LEXIS 6442, 1993 WL 205505

Snippet: consistently with the Uniform Commercial Code. See § 674.103(3), Fla.Stat. (Supp.1992). In light of the U.C.

First Union Nat. Bank v. First Fla. Bank, NA

Court: Fla. Dist. Ct. App. | Date Filed: 1993-04-16T00:53:00-07:00

Citation: 616 So. 2d 1168

Snippet: regulations or by the local clearinghouse rules. See § 674.103, Fla. Stat. *1170 (1985). Thus, we are called upon

Ratner v. Central Nat. Bank of Miami

Court: Fla. Dist. Ct. App. | Date Filed: 1982-04-12T23:53:00-08:00

Citation: 414 So. 2d 210

Snippet: varied the notice requirement pursuant to Sections 674.103(1)[3] and 674.202, Florida Statutes (1979). We … no final settlement of the item. [3] Section 674.103(1) provides in part: The effect of the provisions

OK Moving & Storage Co. v. EGLIN NATL BANK

Court: Fla. Dist. Ct. App. | Date Filed: 1978-10-05T00:53:00-07:00

Citation: 363 So. 2d 160

Snippet: . The bank leans upon the provision of Section 674.103(5) which in part provides: "The measure of